STANBIC IBTC SEES INVESTMENT OPPORTUNITIES IN NIGERIA’S ENERGY SECTOR

Stanbic IBTC Bank brought together industry leaders and experts for an insightful breakfast session focused on Nigeria’s energy sector. The event aimed to explore opportunities and challenges in developing a sustainable and secure energy future.

Keynote Address: Stanbic IBTC’s Vision for Energy

Dr. Demola Sogunle, CEO of Stanbic IBTC Holdings, delivered the opening address. He emphasized the bank’s commitment to:

• Financing: Providing targeted financial interventions to unlock Nigeria’s vast energy potential.
• Collaboration: Fostering partnerships among stakeholders within the energy sector.
• Innovation: Encouraging innovative solutions for a more efficient energy landscape.

Government Perspective on Energy Transition

Engr. Antonio Ayodele, representing the Lagos State Commissioner of Energy and Mineral Resources, highlighted the need for:

• Policy Reforms: Streamlining energy processes to improve efficiency.
• Mindset Shift: Encouraging a change in perspective towards renewable energy adoption.
• Collaboration: Emphasizing the importance of collective responsibility in transitioning to renewables.

Economic Outlook and Investment Opportunities

Muyiwa Oni, Head of Equity Research for West Africa at Standard Bank, presented a positive outlook on Nigeria’s economic diversification and growth potential, despite existing challenges. He stressed the importance of:

• Forward-thinking Businesses: Identifying and capitalizing on emerging opportunities.
• Market Connectivity: Building strong connections between businesses and untapped markets.

Learning from International Experience

Edson Machel, Head of Energy and Infrastructure Finance at Standard Bank Mozambique, shared valuable insights from his home country. Mozambique heavily relies on renewable energy sources, with over 95% of its energy needs met through this sector. However, he highlighted the challenge of scaling up renewable energy production to meet the nation’s rapidly growing demands.

Industry Leaders’ Panel Discussion

A dynamic panel discussion featured prominent figures from Nigeria’s renewable and non-renewable energy sectors. They shared their expertise on strategic ways to address Nigeria’s energy demands in 2024 and beyond.

Key Takeaways:

The Stanbic IBTC Bank Energy and Infrastructure Breakfast Session served as a valuable platform for:

• Knowledge Sharing: Industry leaders and experts exchanged insights on critical energy issues.
• Collaboration: Fostering a collaborative environment for developing sustainable energy solutions.
• Stanbic IBTC’s Commitment: Underlining the bank’s dedication to supporting Nigeria’s economic progress through the energy sector.

Stay Connected:

• Learn more about Stanbic IBTC’s energy and infrastructure solutions: [Business | Stanbic IBTC  Business | Stanbic IBTC Bank
• Get business support:  SectorSolutions@stanbicibtc.com.
• Missed the event? Watch the playback on Youtube:  Energy and Infrastructure Breakfast Session

Source: Techeconomy